Your source for the latest unbiased crypto news.

Indian State plans to boost blockchain ecosystem

0 12

The government of Indian state Andhra Pradesh is looking to build a blockchain startup community in the state.

- Advertisement -

On Wednesday, the Andhra Pradesh Innovation Society (APIS) announced about their association with the Eleven01 Foundation, a native blockchain protocol provider, to develop a talent for blockchain and provide support for the startups building and working with this nascent technology.
As per the press release APIS is assigned to develop “an exceptional technology startup ecosystem.” The partnership plans to use events, mentorship programmes and activities to “nurture talent and develop a community” of startups in the state.

J.A. Chowdhery, IT advisor and special chief secretary to the chief minister of Andhra Pradesh, through a statement, said, “we truly appreciate what the Eleven01 team is trying to do and we are happy to associate with them to bring advanced development and innovations with regard to the blockchain realm in the state.”

Echoing Chowdhury’s comment, Ramachandran Iyer, Eleven01 Foundation’s president & chief product officer said, “We visualize India to be a blockchain-hub and the support from the state here brings us a step closer to achieving that. Together, we will contribute towards the development of the best blockchain-ready talent pool and innovations in the state.”
The blockchain protocol of Eleven01 is built with the partnership of Tech Mahindra, IT services provider in India. Back in August the announcement was made regarding the platform with its aim to develop the ecosystem for blockchain in India.

- Advertisement -

This is the latest step of the government of Andhra Pradesh towards strengthening the blockchain technology. Earlier, the state government signed Memorandum of Understanding with Covalent Fund to develop a blockchain ecosystem as well as to launch a blockchain university with an initial stage investment of $10 million.

Last year October reports also emerged when the state was working with ChromeWay, another startup of blockchain technology to develop a land registry pilot that to track the ownership of property.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.